Infra spending, labour reforms key priorities for new govt: Mark Mobius
Mark Mobius, Founding Partner of Mobius Capital Partners expressed relief that India was doing better than China.
“China has biggest weightage of 30 percent in emerging market basket and India has less. But I hope India’s market capitalisation will go up,” he said.
Mobius said he started investing two months ago. “We like some companies in finance, cement, piping, cable etc.”
He said he also likes consumption space.
Key priorities for the government from here on would be more infra spending, reform in the labour market (as unemployment is too high in India) and streamlining of bureaucracy.
Lok Sabha elections results (leads) indicated that BJP-led NDA is expected to retain power at the Centre for a second time in 2019.
On the biggest risk factor, he said global growth concern and any rise in oil price are risks for India.
Among emerging markets, India is the top choice, though China is an important one, Mobius said.
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